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Income Tax Appellate Tribunal, JABALPUR BENCH, JABALPUR
Before: SHRI SANJAY ARORA, HON’BLE & SHRI MANOMOHAN DAS, HONBLE
This is an Appeal by the Assessee agitating the revision of it’s assessment under section 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 08/11/2018 for Assessment Year (AY) 2016-17, vide order u/s. 263, dated 27/03/2021.
At the very outset, it was submitted by Shri Gupta, the ld. counsel for the assessee, with reference to assessee’s application dated 24/06/2022, that the assessee wishes to withdraw it’s instant appeal as it did not want to enlarge litigation. Permission for the same was accordingly prayed for, to which Shri Kumar, the ld. Sr. DR, did not fairly object.
(A.Y. 2016-17) Krishna Builder v. Pr. CIT
We have heard the parties, and perused the material on record. Assessment pursuant to s.263 order has since been made on 31/03/2022, accepting the assessee’s returned (on 30/03/2017) income of Rs. 12,44,120, i.e., as originally assessed u/s. 143(3) on 18/11/2018. Under the circumstances, the instant appeal is rendered academic. We, accordingly, have no hesitation in accepting the assessee’s prayer and, accordingly, permit the withdrawal of it’s instant appeal. We decide accordingly.
In the result, the assessee’s captioned appeal is dismissed as withdrawn. Order pronounced in open Court on June 29, 2022